"The exchange rate has been relatively stable in the month of August 2023 on the parallel market, despite a marginal appreciation on the official exchange market. "The appreciation of the exchange rate (was) on the official exchange market while the parallel market rate was responding only sluggi...
There is, however, a huge margin between the official exchange rate and the parallel market rate, which is hovering around US$1:Z$200 and above, amid calls to finetune the auction system to narrow the difference.In its latest weekly update, the Reserve Bank of Zimbabwe (RBZ) said a tota...
ZIMBABWE continues to make global headlines after the country’s inflation rate was ranked as one of the highest in the world alongside war-torn countries such as Syria, according to international economist Steve Hanke. Hanke said the country’s inflation rate stood at 244%, a day after the Z...
Over the past eight weeks, the difference between the highest bid and the parallel market rate has moved from 45.37% to 10.52%. To note is the decreasing rate of depreciation of the currency, something which the authorities will take as a positive despite the continued fall. Three weeks ago...
The local currency (RTGS dollar) has lost more than 98% of its value since introduction on February 20 2019 with the official inter-bank exchange rate at 4,95 to the US dollar. Prices for goods and services are however informed by the parallel market rates where US$1 fetches about $7,...
The ZiG currency has started on a wrong foot, shedding value twice on the same day on the parallel market trading at ZiG21 against the United States dollar on 13 April, while the official rate is pegged at ZiG 13.56. In Parliament, Emakhandeni-Luveve MP Discent Bajila said the new amen...
THE Zimdollar value has depreciated by 5, 8% against the greenback on the Reserve Bank of Zimbabwe (RBZ) Foreign Exchange Auction. Market watchers believe the development is a positive step which is slowly moving to close the gap set by the parallel market rate. ...
The difference between the parallel market rate and the weighted average rate remained flat at 27.35% amid speculation that input purchases for the current agriculture season had pushed up the rate although it remained range bound. The UK entered a new lockdown as it discovered a new strain of...
The drop in the value of the Zimdollar has caused hyperinflation as businesses are constantly changing their prices to match the parallel forex market rates to maintain the value of their goods or services. This is reflected in the annual inflation rate of to 676,39% as of the end of last...
“In the absence of strong policy adjustments later this year, macroeconomic conditions could unravel. The continuation of current financial sector policies after the election would have adverse consequences for the parallel market exchange rate and economic development more generally,” says the report....